Small businesses saw a sharp increase in the length of time clients took to pay their invoices last month, according to data from accounting software Xero.
Month: February 2023
The VAT filing deadline is approaching: How to get prepared
It’s important to stay up to date with the latest regulations and requirements related to taxes, including Value Added Tax (VAT) to avoid penalties.
What should you consider when starting your own business?
Starting a business can be an exciting and rewarding experience.
10 Common Accounting Terms, Explained
Having general accounting knowledge is crucial for any business owner, especially during tax season. Understanding common accounting terms is highly beneficial, as you will identify how they relate to your business and how it is performing.
What do you need to know about Inheritance Tax?
Are you thinking about the tax implications of your estate and what this could mean for your loved ones after you pass?
Business challenges for 2023: Knowing your numbers
You can’t predict the future, but your business will inevitably face challenges as we enter the new year.
With that in mind, knowing your numbers is essential if you are to successfully achieve your goals. Read More
How to navigate your first year as a business
Starting your own business is a major achievement and you will have spent a lot of time planning this venture and hoping for success.
But navigating through the first year of this new business will be essential to achieve your goals and it can be difficult to know what you should be doing.
Time is running out to check your National Insurance record
Are you planning on claiming the UK state pension? You must check your National Insurance (NI) record before 5 April 2023.
How can you deal with VAT return errors?
If you are running a business, handling VAT returns can be complex.
You may have submitted returns with errors previously if you were unsure of what to do and could be at risk of further investigation or fines from HM Revenue & Customs (HMRC).
Businesses need to be prepared for changes to business rates from April
The Valuation Office Agency (VOA) has updated the rateable values of all business, and other non-domestic, properties in England and Wales. They will take effect from 1 April 2023.